GTI Paper Series
Halle examines what changes would be needed to the multilateral trade rules to enable the transition to three distinct scenarios. One is not too different from the current reality of market-based capitalism, but with far more attention paid to social equity and environmental issues. A second envisions a society where enterprises work for the benefit not principally of the shareholders, but instead of the employees. The third imagines a world where local production is favoured over internationally-traded production. Halle concludes, surprisingly, that it is not principally the trade rules that impede these transitions.